Overview
Trove is Nigeria’s top stock investment app, offering access to fractional stocks, bonds, ETFs, and a vibrant investor community. The platform is designed primarily for Nigerian millennials and beginners looking to invest in global markets, particularly US stocks, Nigerian equities, and other financial instruments.
Trove simplifies investing by allowing users to buy fractional shares of expensive stocks, making it accessible for investors with limited capital. The platform combines investment opportunities with social features and educational content through Trove University, targeting users who want to learn while they invest.
Key Features
Fractional Stock Investing
Buy portions of expensive shares
Global Market Access
US, Nigerian, and Chinese stocks
Social Investing
Follow and copy successful investors
Trove University
Educational content and financial literacy
Multiple Asset Classes
Stocks, bonds, ETFs, Treasury bills
Real-time Data
Live quotes for 10,000+ instruments
Mobile-first Design
Intuitive app interface
Pros & Cons
Advantages
- Access to fractional shares
- Educational content through Trove University
- Social investing features
- Multiple asset classes available
- User-friendly mobile interface
Limitations
- High commission fees ($2.5 minimum)
- Withdrawal issues reported by users
- Limited customer support responsiveness
- Currency conversion fees
- Mixed user reviews and ratings
Security Features
Bank-level Encryption: Advanced encryption technology safeguards financial data
Two-factor Authentication: An Additional security layer for account access
Regulatory Compliance: Partners registered with the Securities and Exchange Commission (US and Nigeria)
SIPC Insurance: US stock portfolios covered up to $500,000
Data Privacy: Adheres to NDPR and GDPR regulations
24/7 Account Monitoring: Continuous surveillance for suspicious activities.
Pricing & Fees
| Service | Fee | Details |
|---|---|---|
| Stock Trading | 1% of the transaction amount | Minimum fee of $2.50 per transaction |
| Account Maintenance | Free | No monthly maintenance charges |
| Withdrawal | Processing fee applies | 3+ business days for uninvested cash |
| Currency Conversion | FX conversion charges | Applied to international transactions |
| Advisory Services | Variable | Fee-based arrangements managed externally |
Getting Started
Detailed Ratings
Final Verdict
Trove Finance offers an accessible entry point into investing for Nigerian millennials, with fractional shares and educational content being standout features. However, high commission fees and withdrawal issues raise concerns about value and reliability. The platform excels in user experience and educational resources, but needs improvement in customer service and fee structure.